We know Online Casino Jurisdictions are a touchy subject for everybody involved. We’ll try to example as best we can how everything in the industry works. Always focus on finding out about licensing whenever you check out a casino, make sure they are properly regulated. Nowadays it's hard to find online casinos not being associated with a regulated entity. Nonetheless, it never hurts to have some due diligence about it. So, have no fear, Betivity is here to save your behind and give you all the info you need.
Betivity would like to dig into unclear topics such as authorities, regulations, governments, etc. All those touchy subjects that most of the time aren't clear enough for players and online casinos alike. We’ll look into the importance of these terms and what route should you take when choosing an online casino.
The UK Gambling Commission regulates all business providing services in Great Britain. With the objective of assisting with consumer protection, gambling problems, promotions and any other type of consultation to the public.
The Malta Gaming Authority (known as MGA) is the primary regulatory entity managing all online and land based gaming activities in Malta. One of the more popular authorities at the moment.
Since 1996, the Curacao eGaming has been regulating operators looking to provide a service based on integrity and conduct. This is one of the oldest and more stable regulators of the industry right now.
Danish regulations work Danish Gambling Authority which is a private government body linked to the Ministry of Taxation. They focus on mostly on licensing, compliance and finance. For example, they do not attend player complaints from an online casino licensed by them.
There are some questions regarding regulations in Costa Rica since there isn't an official entity that supervises companies based there. This does not mean it is dangerous to play with a brand licensed there, as they are a tax paying business themselves. But it never hurts to be backed by an industry accepted regulatory body.
The Romanian National Gambling Office is a new regulating entity in this country. They are focusing on applying policies in relation to tax paying and responsible gaming. Currently, they are issuing temporary licensing.
A jurisdiction is commonly known as the “right to exercise authority over a subject matter or entity.”. This means, regarding online casinos and governments, is that casinos must obey the laws of the country where they are presently offering business to its population. In addition to this, a judicial court has the authority to define certain situations that affect casinos and its members. The main goal is to always find a fair solution to both involved. Also, businesses abiding by the country’s jurisdiction must have tax responsibilities and follow all laws concerning the subject of taxes.
The complication begins because there is not a legislation that covers the entire world. At the moment there are only individual set of laws between countries. Every country around the world has its own set of rules and regulations that different businesses must obey to offer their services freely. Because the online casino industry is so widespread and massive, it is sometimes difficult to keep track of how many brands are in the market and who is regulated in which country and who isn’t. Most of the time it is the player’s responsibility to be aware of where they choose to play to maintain a safe from any complicated scenarios.
From the player’s standpoint, it’s a way to confirm that the online casino abides by the law. This entails a sense of trust that if the opportunity presents itself, the casino will be accountable and respect the terms and conditions that the player accepted before creating his/her account. So players should look for online casinos that are licensed and have permission in your respective country.
From the online casino’s standpoint, it is essential to have licenses and regulation. Players are much more likely to invest their time and money with them. It is simple to get contacted by players in case there is a situation that needs to be dealt with, for example, a discrepancy at a roulette table or a slot game not paying the correct amount.
If a casino is accepting players from a country they are not licensed in, they are subject to economic penalties. Highly risking having their business shut down by authorities as a result. When players fund their accounts and lose, they are placing their money in a company from outside the respective country, meaning that an unlicensed company will probably not pay the taxes they should be paying if they were registered. This will result in governments hunting down the casinos and charging them the taxes they are owed.
The main advantage an online casino obtains is a risk-free environment for the player and themselves. They will not have to worry about marketing their services if they are regulated in the respective country. An online casino licensed by the UK, Joreels for example, will have no issues accepting players from the United Kingdom. Resulting in providing their players with a sense of trust and responsibility to their brand.
They sure do! If you as a player, ever have an issue, several entities will help you obtain a fair solution. Online casinos risk being penalized and having their reputation damaged if they don’t comply. Keeping players happy is probably the single most important thing for any business of any type. Which is why providing the respective license to operate is the right step to obtaining the objective.
For more information as to which are the primary online casino jurisdictions from one country to another, please look into the various ones we offer here at Betivity. You’ll be able to find all the information suited to help you get started, regardless of your continent. Our goal is to prepare you the right way and guarantee a good experience.
If you want to specifically find information regarding casinos, please check our section of casino categories. You’ll be able to see what online casino jurisdiction they are licensed in.
January 17, 2018
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